The Hill - by Ken Blackwell 4/24/14
Without private capital engaged, taxpayers will be on the hook for irresponsible lending similar to what happened in the financial crisis. The Independent Community Bankers Association, along with Credit Union trade associations, raised the concern that the current proposal will overly concentrate mortgage lending with large financial institutions. They told senators in a letter that "Any housing reform proposal must ensure equal and competitive access for community banks and credit unions, while avoiding further concentration of the primary and secondary mortgage markets to the largest lenders and Wall Street firms." The current proposal fails to meet that test, in their opinion.
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